Business
Silvercorp Provides Positive El Domo Legal Update and Announces Repayment of Wheaton Early Deposit
Silvercorp Provides Positive El Domo Legal Update and Announces Repayment of Wheaton Early Deposi...
About this update from Salazar Resources Limited
[{"type":"text","content":"\n\n\n\n Silvercorp Provides Positive El Domo Legal Update and Announces Repayment of Wheaton Early Deposit\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntaj{\nTEXT-ALIGN: JUSTIFY\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n Trading Symbol:\n \n\n TSX: SVM\n \n\n TSXV: SRL\n \n\n\n NYSE AMERICAN: SVM\n \n\n OTCQB: SRLZF\n \n\n\n\n\n VANCOUVER, BC\n \n\n ,\n \n\n Nov. 15, 2024\n \n\n /CNW/ - Silvercorp Metals Inc. (\"Silvercorp\" or the \"Company\") (TSX: SVM) (NYSE American: SVM) and Salazar Resources Ltd. (\"Salazar\") (TSXV: SRL) (OTCQB: SRLZF) are pleased to announce that on\n \n November 12, 2024\n \n , the Provincial Court of Bolivar (the \"Court\"), in the province of\n \n Ecuador\n \n where the El Domo project (the \"Project\") is located, dismissed the appeal filed by the plaintiffs in respect of the Curipamba – El Domo constitutional protective action, affirming the rights of the Company's Ecuadorian subsidiary, Curimining S.A. (\"Curimining\"), to continue construction of the Project. Additionally, the Company announced the repayment of funds previously drawn by Adventus Mining Corporation (\"Adventus\") from Wheaton Precious Metals International Ltd. (\"Wheaton\") under the precious metals purchase agreement (\"PMPA\").\n \n\n\n Constitutional Protective Action Against El Domo Project Dismissed\n \n\n The Court dismissed the appeal and affirmed the lower court decision that the Ministry of Environment, Water, and Ecological Transition of\n \n Ecuador\n \n (\"MAATE\") correctly discharged its environmental consultation obligations prior to issuing an environmental license for the Project (See News Release of\n \n July 31, 2024\n \n ). MAATE was supported by the Attorney General's Office, Curimining (as an interested third party), and over 800 individuals who participated in the process as additional supporting third parties.\n \n\n\n Repayment of\n \n US$13.25 Million\n \n El Domo Early Deposit to Wheaton\n \n\n As at\n \n September 30, 2024\n \n , Wheaton had advanced a total of\n \n $13.25 million\n \n . Pursuant to the PMPA...